Tel Aviv Penthouse Sells for 55.5 Million NIS in Landmark Luxury Deal
Hagag Group has sold a luxury penthouse in Tel Aviv's Infinity project for 55.55 million NIS to an American buyer, marking one of Israel's largest real estate deals.
Luxury real estate deals in Tel Aviv are keeping the local property market afloat. While the number of total transactions remains low, high-end purchases by foreign residents are preventing average prices per square meter from dropping significantly, masking a broader market slowdown.
Record-Breaking Penthouse Sale
In one of the most expensive real estate transactions recorded in Israel in recent years, the Hagag Group has sold a luxury penthouse for 55,555,000 NIS. The 52nd-floor residence in the Infinity project, located at the corner of Ibn Gabirol and Jabotinsky streets, spans 293 square meters with an additional 158 square meters of balconies.
The buyer is an American Jewish investor who purchased the property for residential purposes. The deal values the property at approximately 150,000 NIS per square meter, offering sweeping views of the Mediterranean Sea and the Gush Dan skyline.
Project Progress and International Sales
Scheduled for completion in the first quarter of 2027, the 52-story Infinity tower in the Somail compound is being built by Electra and designed by architect Prof. Moshe Tzur. Out of 278 total units, 221 have already been sold, representing roughly 80% of the project.
The massive sale was facilitated by Hagag Group's international sales division, established two years ago to target foreign buyers and global Jewish communities.
"We recognized two years ago that foreign buyers have become a significant force in Israel's luxury market, which is why we built a dedicated international apparatus," said Chen Dilmoni, head of marketing and sales at Hagag Group.